Bulls return as equity market gains N215bn

The domestic equity market on Thursday returned to a bullish run, appreciating by N215 billion as bulls dominated trading activities.

Market capitalisation of listed equities increased by 0.32 per cent to N66.868 trillion from N66.653 trillion reported the previous day.

The NGX All Share Index also increased by 344.24 basis points to 106780.72 points from 106436.48 points recorded on Wednesday.

The positive performance recorded in the stock market during the day was driven by gains in the shares of Cadbury Nigeria Plc, Transcorp, Afriprudential, Dangote Sugar, FirstHolco, United Bank for Africa, United Capital among others.

As a result, year to date return up by 3.74 per cent as 34 companies closed in green against 15 firms that took negative directions.

A review of trading for the day showed that Transnational Corporation of Nigeria led gainers table appreciating by 9.98 per cent to close at N51.80 per unit, SCOA followed with a gain of 9.88 per cent to close at N3.78 per unit, Afriprudential added 9.87 per cent to close at N30.60 per share, Tantalizer grew by 9.72 per cent to close at N2.37 per share, Caverton Business Solutions added 9.52 per cent to close at N2.76 per share.

On the contrary, MRS, Redstarex and SUNU Assurance recorded the highest loss during the day, depreciating by 10 per cent each to close at N166.50, N5.94 and N4.77 per unit respectively. Lasaco Insurance trailed with a loss of 7.99 per cent to close at N2.65 per share, UPDC declined by 6.76 per cent to close at N2.62 per unit.

Volume of transactions dropped by 23.741 million, representing 5.94 per cent as investors traded 375.725 million shares valued at N10.185 billion in 11447 deals against 399.466 million shares worth N8.763 billion in 11423 deals.

Trading in the shares of GTCO Plc led market activities with 49.945 million valued at N2.913 billion, Access Holdings company followed with account of 43.866 million shares worth N1.033 billion, Zenith Bank traded 36.511 million shares cost N1.727 billion, Fidelity Bank exchanged 27.105 million shares worth N468.651 million while United Bank for Africa exchanged 19.437 million shares valued at N705.132 million.